Illinois Compiled Statutes 735 ILCS 5/12-638 – Conversions of foreign money in distribution proceeding
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Illinois Compiled Statutes 735 ILCS 5/12-638
- United States: may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14
The rate of exchange prevailing at or near the close of business on the day the distribution proceeding is initiated governs all exchanges of foreign money in a distribution proceeding. A foreign-money claimant in a distribution proceeding shall assert its claim in the named foreign money and show the amount of the United States dollars resulting from a conversion as of the date the proceeding was initiated.